Egypt's main index edged up after three sessions of losses, rising 0.21 percent to 6,089 points, while daily stock turnover continues to be low at almost EGP 300 million on Thursday.

Pioneers Holding, one of Egypt's largest financial services firms, expects to complete a 2 billion Egyptian pound ($255 million) initial share offering of property developer Rooya Group in the second half of this year.

A senior official at the United Bank said the Central Bank of Egypt (CBE) will not launch the United Bank’s initial public offering (IPO) on the Egyptian Exchange (EGX) until it approves the bank’s 2015 budget.

One of Gulf Capital’s portfolio companies, Middle East Glass, has acquired ownership of Misr Glass Manufacturing, an Egyptian company that specializes in the manufacture of container glass for the food and beverage industry. Terms of the deal were not disclosed, but the transaction creates the MENA region’s largest glass packaging concern, with a client list that includes a number of the world’s largest brands including Coca-Cola, Nestlé and Pepsi as well as other major domestic and regional beverage producers.